Citi Axes Second FX Head Valentin Marinov In As Many Months

Citi’s personnel purges have continued in London, this time resulting in the departure of Valentin Marinov, the Head of European G-10 foreign Exchange strategy.

This is the second notable departure as of late at Citi, after the group’s Global Head of FX, Stephane Knauf parted ways with the bank at the end of September. Mr. Marinov was based out of London and reported to to Steve Englander, Citi’s Global Head of G-10 FX strategy.

Mr. Marinov also joined Citi in parallel to Greg Anderson, the G-10 FX strategy head that was based out of New York – since then he has left to work at the Bank of Montreal. It is unclear who, if anyone will serve as Mr. Marinov’s replacement as many banks are scaling back operations in the wake of uncertain Volatility and lingering probes.